The Indian rupee has recorded a sharp decline against the Pakistani rupee over the past 12 months, reflecting a notable shift in exchange rate performance between the two currencies.
According to available data, the exchange rate stood at 3.2913 Pakistani rupees per Indian rupee on May 15, 2025. By May 18, 2026, it had declined to 2.9010, marking a depreciation of around 11.86%.
This represents a near 12% fall in the Indian rupee’s value against the Pakistani currency over the period, including a 6.8% drop during 2026 alone.
The movement indicates relative strengthening of the Pakistani rupee against the Indian rupee during this timeframe, despite ongoing global economic pressures affecting emerging market currencies.
Analysts note that both economies have faced external shocks, but currency performance has diverged over the period under review. Pakistan’s recent engagement with an International Monetary Fund (IMF) programme and associated macroeconomic adjustments is also cited in broader discussions on currency stability.
Market observers further highlight that the Indian rupee has shown weakness not only against the Pakistani rupee but also against other regional currencies, suggesting sustained pressure on its external value over the past year.
